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Companies : Denso Corporation DENSO Establishes New Company in Tianjin, China to Produce Car Navigation Systems
Demand for car navigation systems in China is expected to increase rapidly from 50,000 units in 2004 to 500,000 units by 2010. DENSO announces year-end financial results April 27, 2004 -- Tokyo, Japan - DENSO Corporation today announced global financial results for the fiscal year ended March 31, 2004:
In Japan, sales totaled 1,885.8 billion yen (US$17.8 billion), a 9.0 percent increase from the previous year, and operating income totaled 153.5 billion yen (US$1.4 billion), a 24.5 percent increase from the previous year. The increase in sales was led by a raise in ITS products such as car navigation systems and ETC (Electronic Toll Collection) system, as well as a demand for replacement trucks due to new diesel engine emission regulations. The increase in operating income was led by the increase in production volume and cost reduction activities. The increase in sales was led by a rise in ITS products such as car navigation systems and ETC (Electronic Toll Collection) systems, as well as a demand for replacement trucks due to new diesel engine emission regulations, Katoh said. The increase in operating income was led by the increase in production volume and cost reduction activities. In North, Central and South America, the increase in production volume for Japanese car manufacturers resulted in a slight increase of sales, despite an appreciated yen against the U.S. dollar. Combined sales for those regions totaled 557.7 billion yen (US$5.3 billion), a 3.2 percent increase from the previous year. In spite of production volume increases and cost reduction activities, new additions to the product line-up resulted in a decrease in operating income of 24.8 billion yen (US$234.0 million), a decrease of 11.9 percent. In Europe, sales totaled 338.3 billion yen (US$3.2billion), a 23.5 percent increase from the previous year due to a production volume increase especially for Japanese car manufacturers and a depreciated yen against the euro. New additions to the product line-up led to a 4.3 billion yen (US$ 40.6 million) operating loss. In Asia and Oceania, sales totaled 223.6 billion yen (US$2.1 billion), a 20.3 percent increase from the previous year, and operating income totaled 14.9 billion yen (US$140.6 million), a 20.6 percent increase from the previous year. A substantial increase in sales especially in Thailand, China and Korea contributed to an increase in both of sales and operating income, Katoh said.
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